By the end of June, 2008, the total assets of HSBC Group reached US$ 2,547 billion, and its Tier 1 capital ratio and total capital ratio were 8.8% and 65,438+065,438+0.9% respectively. It belongs to the world's largest banking institution by assets and the third largest banking institution in the world. Its name comes from the founding member-1865 The Hongkong and Shanghai Banking Corporation Limited established in Hong Kong. Initially, it provided financial services to British companies in the Far East, and now it has developed into a multinational financial institution, with more than 70% of its turnover coming from outside the UK.
history
[Editor] The founding member of HSBC Group-The establishment of Hongkong and Shanghai Banking Corporation.
Major projects: Hongkong and Shanghai Banking Corporation
HSBC Group was formed by the expansion of Hongkong and Shanghai Banking Corporation for many years. The Hongkong and Shanghai Banking Corporation opened in Hong Kong in March, 1865. In the same year, it opened branches in Shanghai and London, and set up a correspondent bank in San Francisco. Its establishment was triggered by the division of power of Hong Kong foreign firm.
1In July, 864, British businessmen in Mumbai planned to set up Royal Bank of China in Hong Kong to issue 30,000 shares at 200 Indian Rupee each, but only planned to distribute 5,000 shares to businessmen in Hong Kong and China, which caused dissatisfaction among foreign companies in Hong Kong. On July 28th of the same year, Thomas Sutherland and Baoshun Foreign Company, supervisors of Railway Shipping Company, took the lead in announcing the establishment of a Hong Kong-funded bank in the press.
When HSBC was founded, its capital was * * * 5 million Hong Kong dollars, and * * * 20,000 shares, each of which was 250 Hong Kong dollars. 1866, each share was split into 40,000 shares by 1, and each share was 125 yuan. 1864 * * The temporary committee is composed of 15 people. The chairman is Cholmeley, the representative of Baoshun Foreign Firm, and the members are Xiudalan of Railway Shipping Company, Hurd of Qiongji Foreign Firm, Maclean of Qiaoji Foreign Firm, Douglas Lapolek, a Hong Kong billionaire, Chide of Zen Foreign Firm, and Lyman of Pacific Route. [1] These people include British, Americans, Germans, Danes, Jews and Indian Parsis, but in the following years, shareholders withdrew and HSBC was controlled by the British.
On March 2nd 1865, the temporary committee was reorganized into the board of directors and officially opened on March 3rd. Its headquarters is located in Victoria Building held by Sassoon Foreign Company at Queen's Road Central 1. 1866 In June, the Ordinance of The Hongkong and Shanghai Banking Corporation Limited was approved by the Hong Kong government and the British Treasury. HSBC was registered as a limited liability company and authorized to issue Hong Kong banknotes.
In the early days, HSBC Group expanded its business around the world by opening branches of Hongkong and Shanghai Banking Corporation. Until World War II, HSBC's business was concentrated in Hong Kong, while the branches in mainland China were closed one after another from 1949, and its overseas business was not satisfactory. Due to the limited development space,/kloc-0 began to set up or acquire subsidiaries in the 1950s.
[Editor] The Hongkong and Shanghai Banking Corporation operates as a group.
The Hongkong and Shanghai Banking Corporation led by michael turner began to operate as a group in 1953. First, HSBC Bank of California, the first subsidiary of the Group, was established in California from 65438 to 0955. 1959, HSBC acquired the beneficiary banks in the Middle East and the Bank of England, which was the first acquisition by HSBC Group. 1965, HSBC acquired the controlling stake in Hang Seng Bank. 1972, HSBC established Win Dolly Limited (predecessor of HSBC Investment Bank Holdings Limited). 1980, HSBC became a shareholder in Wachovia, and 1987 became a wholly-owned subsidiary of HSBC. 198 1 year, HSBC acquired the controlling stake in Equator Holdings Limited; In the same year, HSBC failed to acquire Royal Bank of Scotland, but its interest in acquiring large British banks continued unabated. 1987, HSBC became a shareholder in Midland Bank, and through the cooperation agreement, HSBC and Midland transferred their business to each other.
[Editor] The establishment of HSBC Holdings
1990 12 17 The Hongkong and Shanghai Banking Corporation announced its reorganization, including:
A group holding company named HSBC Holdings Limited was established, and the London branch of Hongkong and Shanghai Banking Corporation was upgraded to the registered office of HSBC Holdings.
The shares of HSBC were transferred to the name of HSBC Holdings, and HSBC Holdings issued new shares, replacing 4 shares of HSBC with 65,438+0 shares of HSBC Holdings, and reducing the original issued shares to 3/4 for overseas listing in the future.
After the replacement of HSBC shares, HSBC Holdings shares were listed on the Hong Kong and London Stock Exchanges respectively.
HSBC Holdings is registered in the UK, but Hong Kong is the group headquarters.
The Hongkong and Shanghai Banking Corporation Limited is a wholly-owned subsidiary of HSBC Holdings. In order to develop its business in Hong Kong, its registration in Hong Kong remains unchanged.
At that time, the HSBC Group moved to Britain and established HSBC Holdings. However, the strategy of keeping the general management office in Hong Kong was based on the uncertain political factors of the transfer of sovereignty in Hong Kong. Through this strategy, HSBC can not only avoid the risks that may be brought about by the transfer of sovereignty in Hong Kong, but also make all the collection and capital appreciation of HSBC not affected by the British tax system and tax rate, which is conducive to HSBC's continuous and lucrative profits. In this way, HSBC Group is in a position of "advancing and retreating freely".
1In July, 1992, HSBC Holdings acquired the remaining shares of Midland Bank, formally acquired its business and expanded its European market. However, under the regulations of the British regulatory authorities, the comprehensive management office of HSBC Group was moved from Hong Kong to London on June 1993. The main regulator of HSBC Holdings Limited is the Bank of England, but its subsidiaries continue to be supervised by the relevant authorities in the place where they operate. The headquarters of HSBC Group in London will only provide major central functions, such as strategic planning, human resource management, legal and corporate secretarial services, financial planning and monitoring. 1998, HSBC announced the construction of a new headquarters building in London to accommodate various departments of the HSBC Group's integrated management office, which were originally scattered in different parts of London's financial district. The building was opened in 2002 and officially opened to the public in April 2003. It is also the headquarters of HSBC.
[Editor] Other companies whose shares are completely acquired by HSBC.
[Editor] Asia and Greater China
China Shanghai Bank (8%, 2000)
PCIB Savings Bank (2000), a savings bank under the Philippine Commercial International Bank.
China Ping An Insurance (10%, 2002; 19.9%, 2005; In 2007, it was diluted to 16.8% due to listing, and was bought back to 27% of Ping An Bank held by HSBC).
China Fujian Industrial Bank (15.99%, acquired by Hang Seng Bank in 2004; In 2007, it was diluted to about 12.78% due to listing).
UTI bank (14.62%, 2004; 4.99%, 2006)
China Bank of Communications (19.9%, 2004; In 2007, it was diluted to about 18.6% due to its listing in Shanghai, and1announced that it would increase its holdings of H shares to 19% in Hong Kong on October 26th.
Dynasty Group (62%, the largest investment company in Malaysia)
Vietnam Science and Technology Commercial Joint-stock Bank (10%, 2005; 15%, 2007; 20%, 2008)
Vietnam Baoyue Insurance Company (10%, 2007)
Taiwan Province Zhongzu Dihe Group is a wholly-owned Taiwan Province Dihe Company (2007).
Asiana Life Insurance in Korea (50%, 2007)
Taiwan Province Zhonghua Commercial Bank (2007)
China Yantai Commercial Bank (20%, acquired by Hang Seng Bank in 2008)
il &； , one of the largest retail securities brokers in India; FS Investsmart(93.86%, 2008)
One of Indonesia's largest industrial and commercial banks, PT Bank Ekonomi Rahajatbk (holding 88.89% of shares in 2008) has assets of US$ 607.5 million.
[Editor] Middle East
Demir Banktas, Turkey (200 1)
Dar es Salaam Investment Bank, Iraq (2005)
[Editor] Europe and Britain
Central Malta Medical Bank Limited (70.03%, 1999)
Commercial Bank of France (99.99%, 200 1)
Polish Polschi Credit Bank Co., Ltd. (2004)
Retail Financial Services of Mark and Spencer in Britain (2004)
[Editor] America
Banco Maerlant, Brazil (1997)
Robos Group of Argentina (1997)
Free Banking Group (1999)
Mexican financial group BITAL (99.59% in 2002)
American Family International (2003)
Brazil Business of TSB Bank of Les, UK (2003)
Bank of Bermuda (2004)
Metris Company of America (2005)
Panama Grupo Banistmo Co., Ltd. (99.98%, 2006)
Argentina Business of Italian National Labor Bank (2006)
Banex Costa Rica (2007)
TSB Lloyds Bank Paraguay (2007)
[Editor] Recent trends
1998165438+10. In October, HSBC Group announced a unified brand, and subsidiaries in almost all business areas adopted the HSBC brand and hexagonal logo, while individual offices of HSBC outside the Asia-Pacific region were also included in the local subsidiary network that adopted the HSBC brand (for example, some branches of HSBC in the UK were included in the network of HSBC in the UK). Unifying the group brand can deepen the understanding of customers, shareholders and employees around the world about the group and its beliefs, and also help HSBC launch new products and services around the world with the same group image. HSBC Holdings was also listed on the new york Stock Exchange on 1999. The shares were split into three shares, and the par value of the shares was changed from pounds to dollars. In 2000, due to the acquisition of Commercial Bank of France, it replaced the listing position of Commercial Bank of France on the Paris Stock Exchange. Since 2002, HSBC has taken "local banks in the world" as the slogan of the group, emphasizing that the group has rich experience in many markets and a thorough understanding of cultural characteristics around the world. In 2004, the acquisition of Bermuda Bank replaced the listing status of Bermuda Bank on Bermuda Stock Exchange.
According to the usual practice, HSBC Holdings will review the location of the Group's integrated management office every three years. However, on June 5438+ 10, 2006, it was reported that the comprehensive management office of HSBC Group might move out of London. Some analysts said that it is not excluded to return to Hong Kong after the handover of Hong Kong's autonomy and the situation is stable, because the tax rate in the UK is much higher than that in Hong Kong, and the scope of taxation and taxes are much wider than that in Hong Kong, which makes HSBC Holdings have to bear high taxes. HSBC Holdings pays up to 400 million pounds to the British government every year. In addition to Hong Kong, some British newspapers pointed out that the general management office of HSBC Group might be moved to Ireland, but an HSBC spokesman immediately denied it. Ji Qin, CEO of HSBC Holdings, said that the UK enjoys a superior geographical position and can quickly contact business networks around the world, and is quite satisfied with the Group's current comprehensive management office.
In February 2007, HSBC Holdings issued its first profit warning. Chairman Green said that the reason was that his HSBC financing made a mistake in strategy. Green pointed out that HSBC financing to develop mortgage business is not a core business, but HSBC Holdings has no intention of selling HSBC financing. This is the first time that HSBC Group has issued a profit warning since its establishment 140 years ago.
On1October 26th, 2007, 165438+ HSBC Holdings announced the reorganization of Cullinan Finance Limited and Asscher Finance Limited, two structured investment vehicles under the Group. It is estimated that before August 2008, it will provide up to about $35 billion in liquidity and conventional financing, and the mortgage securities and other assets held by the two SIVs totaling $45 billion will be included in their balance sheets.
On June 17, 2008, HSBC Holdings Limited agreed to sell its 5 1% stake in the credit card acquiring business in the UK to Global Payment, one of the largest transaction processors in the world, which had to pay HSBC $439 million.
HSBC and Global Payments will set up a joint venture company named "HSBC Business Services Company", which is headquartered in Leicester, England, and HSBC holds 49% of the company's shares.
On September 19, 2008, HSBC Holdings announced that it would abandon its plan to acquire 510.02% equity of korea exchange bank for US$ 63170,000 (about HK$ 49.3 billion) in view of the decrease in asset value caused by the international credit crisis.
On June 5438+1October 265438+1October 2008, HSBC Holdings announced that it would acquire 88.89% equity of PT Bank Ekonomi Rahajat BK (hereinafter referred to as "Bank Ekonomi") with internal cash through its subsidiary HSBC Asia Pacific Holdings at a price of 2452 rupiah per share, totaling 607.5 million.
After the transaction is completed, HSBC will have 65,438+090 outlets in 24 cities in Indonesia, making it the third largest foreign bank after Standard Chartered Bank and Citigroup.
Ekonomi Bank has assets worth $654.38+08 billion, 2,200 employees and 86 branches.
Inventory status
Shares of HSBC Holdings are listed and traded on the London, Hongkong, new york, Paris and Bermuda stock exchanges, with about 250,000 shareholders from more than 65,438,000 regions around the world. On the new york Stock Exchange, shares of HSBC Holdings are traded in the form of American Depositary Receipts. In addition, HSBC Holdings is one of the constituent stocks of Hang Seng Index in Hong Kong and FTSE 100 Index in Britain.
Group business
At present, many members of HSBC Group have more than 10000 branches and offices in 82 regions, with more than 65438+25 million global customers and more than 35 million electronic wealth management customers. Business includes personal finance, industrial and commercial finance, corporate banking, investment banking, capital market and private banking.
management of personal money
HSBC provides comprehensive personal financial services to as many as 6,543.82 billion individual customers, including current and savings accounts, mortgage loans, insurance, credit cards, loans, pensions and investments. Under the global development trend, consumer finance business is gradually integrated into personal finance business. Direct selling channels are becoming more and more popular. In 2005, the number of online transactions handled by HSBC reached 65.438+0.83 billion, and there were 65.438+0.3 million excellent wealth management customers.
industry and commerce
HSBC provides financial services for small and medium-sized enterprises and middle-level enterprises, and has more than 2.5 million business customers, including sole proprietorships and partnerships, corporate enterprises, listed companies, clubs and associations.
Corporate banks, investment banks, capital markets
Provide specially designed financial services for corporate and financial institution customers, including global capital market, global investment banking, corporate banking and financial institution business, and global transaction banking.
[Editor] Private Bank
HSBC Private Banking Services provides financial services to the rich and their families. It has 90 service locations, and its customer assets and loans have increased significantly in recent years.
[Editor] Major members of HSBC and HSBC Group around the world (first by continent, then by the year when local HSBC was established)
[Editor] Asia and Oceania
Hong Kong-HSBC/Hang Seng
China-HSBC/Hang Seng
Japan
the Philippines
Singapore
Malaysia
Thailand
Sri Lanka
South Korea
Taiwan Province Province, China
Australia
Viet Nam
New Zealand
[Editor] HSBC operates as a subsidiary of HSBC in Hong Kong in the following regions.
Kazakhstan, Macau, Bangladesh, Indonesia, Brunei.
[Editor] Middle East and Africa
Bahrain
Lebanon
Jordan
Oman
Kuwait
Qatar
The United Arab Emirates
Saudi Arabia
Egypt
Armenia
Israel
Libya
Mauritius
Pakistan
Qatar
South Africa
Europe
The Hongkong and Shanghai Banking Corporation Limited, formerly known as Wachovia Bank Limited, acquired 4.9% equity of Wachovia Bank in 1987, and the remaining equity was acquired by HSBC Holdings in 1992, making it one of the largest acquisitions of HSBC Group. At present, HSBC is the general management office of HSBC Group in Europe, and its subsidiaries mainly have branches and offices in Europe.
HSBC Bank. Burkhardt stock company-formerly known as Trinkaus Company; Burkhardt Bank, a German bank, was acquired by Mitterrand Bank in 1980.
HSBC CCB-formerly known as CCB Switzerland, was established in Zurich, Switzerland. Before joining HSBC Group, it was a subsidiary of Mitterrand Bank.
Hsbc AS- 1990 was founded in turkey and was originally a subsidiary of midland bank. In 200 1 year, HSBC acquired TAS de milk Bank and merged into HSBC.
HSBC Private Bank (Switzerland) Co., Ltd.-formerly known as Freedom Bank (Switzerland) Co., Ltd., was established in Geneva, Switzerland. Before joining HSBC Group, it was originally a subsidiary of Free Banking Group.
The Hongkong and Shanghai Banking Corporation Limited of Malta (formerly known as Mid-Med Bank plc) acquired 70.03% equity of Midland Bank with 1999.
HSBC France Bank, formerly known as Commercial Bank of France, was founded in Paris and was acquired by HSBC Holdings in 2000. HSBC Holdings is also listed on the Paris Stock Exchange.
United States of America
HSBC-HSBC 1980 acquired 5 1% equity of Haifeng Bank, and 1987 acquired the remaining equity; 1999, HSBC acquired Bao Li Bank Group again and merged into HSBC in the United States.
The Hongkong and Shanghai Banking Corporation Limited-198 1 was founded by the Hongkong and Shanghai Banking Corporation Limited in Vancouver, Canada.
HSBC Bank of Brazil-formerly known as PaMaerlant Bank, 1997, took over its assets, liabilities and subsidiaries after its establishment.
HSBC Bank of Argentina-1987, Roberts Group purchased its equity from Midland Bank, then transferred it to HSBC Group, and became a wholly-owned subsidiary of HSBC on 1997; In 2006, HSBC acquired the Argentine business of Banca Nazionale del Lavoro and merged it into HSBC Argentina.
HSBC Bank of Mexico-formerly known as Grupo Financiero Bital, SA de CV, was founded in Mexico City and was acquired by HSBC Holdings in 2002.
American HSBC Financial Co., Ltd.-In 2003, HSBC acquired American Household International Company; ; In 2005, HSBC acquired Metris Companies, Inc and merged into HSBC Finance.
Bermuda Bank Limited-acquired by HSBC Holdings in 2004, and HSBC Holdings is also listed on Bermuda Stock Exchange.
Hongkong and Shanghai Banking Corporation of Panama-1973 opened an office in Panama City, Panama, and was upgraded to a local branch in 2007.
HSBC Paraguay-formerly TBS Paraguay Rice Banking Department.
HSBC Costa Rica (formerly known as Banex) was formed by HSBC's acquisition of Grupo Banistmo, a major shareholder, in 2007.
refer to
Overview of HSBC Group Information (PDF file)
A brief history of HSBC Group (PDF file)